HOUSE PRICE RISES AMONG THE FASTEST IN UK

Av­er­age costs of prop­erty in parts of the county are up to al­most £650,000

Buckinghamshire Advertiser - - FRONT PAGE - by KATY CLIFTON katy.clifton@trin­i­tymir­ror.com Twit­ter: @Katy_Clifton1

HOUSE hunters in parts of Buck­ing­hamshire are faced with some of the fastest ris­ing house prices in Eng­land, ac­cord­ing to this month’s House Price In­dex.

The av­er­age prop­erty prices in the area rose by 14.7% since March last year, up from an av­er­age of £556,339 to £638,210.

Since March 2016, prices have risen by 4.4% in Chiltern, 5.4% in Wy- combe and 10% in Ayles­bury Vale. This in­crease means South Bucks prices have risen third fastest out of the local author­i­ties in Eng­land since last year, with Orkney Is­lands and Knowsley just ahead.

Buck­ing­hamshire prop­erty prices, ac­cord­ing to Right­move, re­main at nearly a na­tional high in some ar­eas of the county.

The ma­jor­ity of sales in Bea­cons­field in the last year were de­tached prop­er­ties, sell­ing for an av­er­age price of £1,341,644.

Bea­cons­field, with an over­all aver- age of £953,817, was more ex­pen­sive than nearby Wooburn Green (£415,196) and Loud­wa­ter (£298,949).

House hunters in Ger­rards Cross will also be faced with ex­cep­tion­ally high prices, with a cur­rent av­er­age price in the area of £874,155.

How­ever, Seer Green prop­erty prices dwarf those in the sur­round­ing ar­eas, with the av­er­age cur­rently be­ing £1,231,185.

Ni­ral Batavia, di­rec­tor at Hunters Es­tate Agents’ Amer­sham and Che­sham

branches, said the prop­erty prices in­crease with the de­mand.

He said: “The house prices are so high be­cause the fun­da­men­tals are so good.

“Those fun­da­men­tals are the things which cre­ate a lot of de­mand.”

“Buck­ing­hamshire school­ing is sec­ond to none and the trans­port links are very good, with over­ground and un­der­ground sta­tions.

“It’s also just a nice place to live – we’re within the Chilterns, it’s scenic and nice and within min­utes you can be out­side in the coun­try­side and in the hills.”

Ac­cord­ing to Mr Batavia, the county’s fun­da­men­tals means that first-time buy­ers will have to rely on the ‘bank of mum and dad’ for the fore­see­able fu­ture.

“I think it will con­tinue,” he added.

“There’s no land any­where to build – un­less lower green belt gets con­verted into sites for re­de­vel­op­ment, of which there is talk.

“The sup­ply will never meet the de­mand, which will con­stantly put pres­sure on house prices in the area.”

Although local house prices con­tinue to grow, the av­er­age prices over­all in the UK seem to be slow­ing down.

The av­er­age price in­creased by 4.1% in the year to March 2017, which is down from 5.6% the year to Fe­bru­ary 2017.

This con­tin­ues the gen­eral slow­down in the an­nual growth rate seen since June 2016, when the an­nual price rise was 9.4%.

The av­er­age UK house price was £216,000 in March 2017, £9,000 higher than in March 2016 and £1,000 lower than last month, ac­cord­ing to the Of­fice for Na­tional Sta­tis­tics.

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